The words in the title are attributed to investor James Dines. On the other hand, we have the PhD-holding geniuses at the Fed saying things like this: But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes [...]
In my last post I talked about the problems with economic forecasting, with economists in general, and with the seeming inability of anyone to explain what in the heck is going on. Well, I believe I know what's going on. We are experiencing, and will continue to experience, a deep and prolonged deflation. But this [...]
There's a reason why the Constitution specifies that only gold and silver shall be money: paper currencies are too easy to print when you start to run low. The chief counterfeiter at the Federal Reserve is very good at proving the point. "Credit bubble" is a misnomer; what we are suffering from is the aftermath [...]
One of the roles of the "world reserve currency" is its use as a primary currency of choice in settling international trade. This literally means that foreign trade, even between non-U.S. trading partners, is settled in U.S. Dollars. This is done advantageously by both trading partners; by the purchaser because dollars are readily available, and [...]
Alan Greenspan, before he sold out and became a tool: "In the absence of a gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. [...]
"...maybe a massive bout of global inflation is the only way forward." - Alen Mattich, WSJ Those crazy moonbat goldbugs over at Wall Street Journal are at it again. Next thing you know they'll be advising the plebes to buy gold. "When set against the fact that the government has lost control of its finances, [...]
Do not ask, ‘Who is destroying the world?' You are. Say whatever you want about Ayn Rand, some of the ideas in her epic tome "Atlas Shrugged" should be required reading in American schools. In our previous post, we introduced the idea of money and the manipulation (destruction) of its value. Without further comment, [...]
This won't sit well with some people: Gold isn't a commodity. There. I've said it. - WSJ's Jeff Opdyke Wall Street Journal is not some goldbug rag. The idea that the U.S. dollar is no longer the envy of the globe is becoming mainstream. Goldbugs, of course, are way ahead of this trend. WSJ's Jeff Opdyke [...]
